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Money for 1st time homebuyers
Free money for 1st time home buyers.
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Part of the Federal Government's bail out bill is a tax credit for first time homebuyers. By definition a first time homebuyer is anyone who has not owned a home in the previous 3 years.
For singles who earn less than $75,000 & couples who earn less $150,000 purchasers are eligible for a tax credit of 10% of the purchase price up to $8,000 if they purchase a home this year. This is a true credit and the government will pay you $8,000. For instance at the end of the year if you owe $3,000 in taxes, the government will send you a check for $5,000, or if you owe $12,000 you would send $4,000. This is assuming you get the full $8,000 credit. We recommend you contact your tax professional should you have questions about your ability to benefit from this.
Contact us for all of your real estate needs! (304) 242-8150
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